The license extends to current and future patents held by both parties and the financial terms of this settlement have not been disclosed.

According to The Verge, this settlement now enables HTC to make use of Apple’s slide to unlock, universal search, as well as other disputed functionality, with Cupertino gaining access to HTC’s wealth of LTE (4G) patents.

Apple kicked off the patent saga between itself and HTC during March 2010 when it filed a lawsuit against HTC, claiming that the company infringed upon 20 of its patents that have to do with the iPhone’s user interface, architecture and hardware.

This prompted HTC to respond with a countersuit filed with the US ITC (International Trade Commission) in May 2010, via which HTC aimed to bring to an end the import and sale of Cupertino’s iPhone, iPad as well as the iPod in the US.

“HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation,” said Peter Chou, CEO of HTC.

Tim Cook, CEO of Apple echoed Chou’s sentiments stating: “We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation.”

Hopefully a similar deal between Cupertino and Korean tech giant Samsung can also be reached in the near future, in order to bring an end to the longstanding global Apple vs. Samsung patent war.